Pursuant to the in principle decision of the Board of Directors of the Company to monetize certain tea estates and/or other assets of the Company, a Deed of Conveyance has been entered into at Kolkata on 27th November, 2020 with Hari Housing LLP (PAN : AANFH3425M ) having its office at 305, Mangalam-A, 24, Hemanta Basu Sarani, Kolkata-700001 to dispose of one of its real estate property named as ‘Suvira House’ situated at 4B, Hungerford Street, Kolkata 700 017, West Bengal for a consideration of Rs 19.21 Crores.
This monetization of the non-performing asset of the Company is to turn around the financial prowess, reduction in finance cost, availability of more working capital, profit earning capability of the Company, to modernize and to upgrade the remaining business assets.
